Income tax: employee share acquisition schemes: can a resident taxpayer participating in a foreign employee share acquisition scheme take advantage of a reduction in discount under subsection 26AAC(4F) of the Income Tax Assessment Act 1936 ?
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FOI status:may be releasedFOI number: I 1214606
|This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).|
2. If the Commissioner is satisfied that the "acquisition scheme" complies with all the requirements set out in subsection 26AAC(4A) at the time shares are issued or rights to acquire shares are granted, the employees will be able to take advantage of a reduction in discount.
Commissioner of Taxation
employee share acquisition scheme;
reduction of aggregate discount amount;